HELOC or fixed home equity loan (HELOAN)

Unlock the power of your home with up to 90% loan-to-value home equity options.

Flexible, nontraditional programs for real estate investors, self-employed borrowers, and business owners.

HELOC (Home Equity Line of Credit)

Fast HELOC (5–7 days)

Up to 85% CLTV

Min FICO 640

Max loan $400,000

No prepayment penalty

Fixed rate and fixed payment

No Underwriter, No Escrow, No Title, No Appraisal, AVM Only

Only use the Experian FICO

Terms: 5, 10, 15 & 30 years

1-Unit properties only (SFR, PUD, Condo)

Owner Occupied, Non-Owner Occupied, and Second Home

Max DTI 50%

Fast On-line approval

Standard HELOC

Piggyback refinance or stand-alone second available

Loan amounts: $75,000–$500,000

Structure: variable-rate revolving line; draw as needed

Terms: 15, 20, or 30 years (interest-only draw may be available; not in TX)

Appraisal: AVM/drive-by allowed up to $250,000 (second liens)

Occupancy: primary residence, second home, and eligible investment properties

CLTV: up to 90% on owner-occupied with strong credit

Min FICO: 660

Up to 10 financed properties allowed

Speak to a loan officer today

HELOAN (Home Equity Loan)

Closed-End 2nd — Fixed Rate

One-time lump sum with a fixed rate and fixed term (predictable monthly payment)

Loan amounts: up to $750,000

LTV: up to 90% (Full Doc; eligibility varies)

Minimum FICO: 660

Occupancy: Primary residence, Second home, Investment properties

Documentation options accepted: Bank Statement, DSCR, 1099, VOE (WVOE), 1-Year Self-Employed, Asset Utilization, Full Doc

Terms: 10, 15, 20, or 30 years (fully amortizing)

Speak to a loan officer today

Prime Choice Funding, what can I say other than thank you! You made not only the impossible happen, but you were always available to answer my questions and keep my hope alive.
We bought our house a year ago. It was a Veteran Home Loan; we came upon difficult times, and one of our family members needed help. We drained our savings and were late on our very high mortgage payment for the following two months, which would shy away most lenders with a ten-foot pole. Andrew Carrillo of Prime Choice was still able to get our interest reduced and our mortgage payment reduced by quite a few hundred dollars. I cannot thank him enough for his help and hard work to get our loan passed through and approved. I am forever grateful to him.
If you have the opportunity, veterans, to do an interest reduction on your loan, take it. Try and request Andrew Carrillo to assist you, and hopefully you get Veronica Hall to be the loan processor. These two were better than fantastic—they were constantly in communication with us and with each other. Honestly, they worked very hard to make this happen for us.
I am forever grateful for them. We are looking forward to the future of our home and the lower monthly payment that we will be paying. Veterans, if you want to save some money and would like to look into lowering your monthly mortgage payment, give Prime Choice Funding a call and ask for Andrew Carrillo. He will work very hard to help you out.

Douglas H

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Contact or Get Started Online

Our team of licensed loan officers is prepared to assist you with any inquiries you may have. Applying over the phone can be completed in as little as 10 minutes.

Secure Your Approval

Once you submit your loan application, our team will thoroughly review it, conduct a property appraisal, and complete the underwriting process to ensure your approval.

Secure Your Funds

Once all requirements have been met and we receive clearance to proceed, we will prepare the necessary loan documents. You will then sign the loan documents, and upon completion, your loan will be funded.

See what our clients say about us

✓ Verified
Todd Nedden and his team at Prime Choice are relentless in satisfying the customer and obtaining the loan with the stipulations they require. Todd and Veronica kept me informed throughout the process and never tired of my constant emails and phone calls. They were a pleasure to work with and finalized the loan I requested.
✓ Verified
I had a fantastic experience refinancing my home with Prime Choice Funding. Todd and Veronica Hall were absolutely the best—professional, responsive, and always kept me updated throughout the process. They answered all my questions promptly through emails and phone calls, which gave me peace of mind every step of the way. I'm very happy I chose Prime Choice Funding and highly recommend them!
✓ Verified
It was a pleasure to work with Zack Seither with Prime Choice. We work together as a team and he was great to work with. He assisted my wife and I with our many questions and concerns. He made himself available at anytime to make sure we meet certain time requirements during the process.
✓ Verified
Prime Choice Funding, what can I say other than Thank you! You made not only the impossible happen, but you were always available to answer my questions and keep my hope alive. We bought our house a year ago, It was a Veteran Home Loan; we came upon difficult times, and one of our family members needed help. We drained our savings and were late on our very high mortgage payment for the following two months. Which would shy away most lenders with a ten foot pole. Andrew Carrillo, of Prime Choice; was still able to get our interest reduced and our mortgage payment reduced by quite a few hundred dollars. I cannot thank him enough for his help and hard work to get our loan pasted through and approved. I am forever grateful to him. If you have the opportunity Veterans, to do an Interest reduction on your loan; take it, try and request Andrew Carrillo, to assist you, and hopefully you get Veronica Hall, to be the loan processor. These two were better than fantastic, they were constantly in communication with us and with each other. Honestly they worked very hard to make this happen for us. I am forever grateful for them, we are looking forward to the future of our home, and the lower monthly payment that we will be paying. Veterans, if you want to save some money and would like to look into lowering your monthly mortgage payment. Give Prime Choice Funding a call and ask for Andrew Carrillo, he will work very hard, to help you out.
✓ Verified
Prime Choice Funding was the best for getting the funding needed and always very professional at all the time from the start to the closing. I gave a 10 not a 5!!! Also Michael Bruner the loan officer to work, he always keep you motiivate and when you needed he always was "over extreme professional at all the time from begginig until the closing". We are family appreciate everything he did. The Best.
✓ Verified
Amazing!!! The best mortgage lender professionals. Keith and his team went above and beyond for us. They communicated effectively and provided a very smooth process to refinance my home. I couldn't be happier with Prime Choice Funding. I definitely recommend this company to all who are seeking a mortgage lender.
✓ Verified
I want to thank David Arnold and Robert Foster so much for all of their help and making the process of refinancing our home a breeze! They were available to answer all of our questions quickly and throughly, and explained every step of the process in a way that was easy to understand. We are saving money every month and got a better interest rate, which we will forever be grateful for! I wish I could rate higher than 5 stars because we had an excellent experience and would recommend Prime Choice to anyone in the market. Thank you so much again Dave and Robert!
✓ Verified
Dave and Sam are great group to work with. They guided me through every step and answered all questions I ask. I would definitely recommend Prime Choice Funding Inc. to anyone. Thank your for the awesome work you do!
✓ Verified
Believe me when I say Prime Choice Funding has your best interest at heart! All the representatives (Andrew Carillo, Dave Arnold) were timely, professional & extremely knowledgeable in refinancing my home. They kept me up to date on the status & answered all the questions from the first contact to even after closing! Where others have failed…Give Prime Choice Funding a try today!!
✓ Verified
Working with professional and friendly team, key to success, we can't say enough positive things about the team that worked with us to do our refi. we are very happy with the results and looking forward to the follow up in March. Thank you so much Brighton and Chrystal you guys rock...:)
✓ Verified
Great company, excellent professionalism and committed to helping you find the best rates! What I found exceptional was the way each of them had my family’s best interest in mind. Thanks again!
✓ Verified
Prime Choice is an excellent company to work with. I have done my original home loan, a refi, and a home equity loan through them. Their expertise and professionalism is above and beyond. They made everything easy. I highly recommend them.
✓ Verified
My experience with Prime Choice Funding was exemplary due to Michael Bruner and Vu Hoang! It was a blessing to work with both of them. Michael and Vu were very attentive and responsive throughout the entire process, which created a decisive, smooth, efficient, and trustworthy experience from start to finish. Thank you, Michael and Vu!
✓ Verified
Great treatment from the staff we dealt with, it was a pleasure working with them through the ups and downs of buying a home.
✓ Verified
It's been an honor to have deal with duo Jennifer and Chrystal they're such a professional in their field I gave them the maximum 5 five a well deserve for their job well done.. Thanks so much.
✓ Verified
My wife and I just refinanced through Prime Choice. We'd been previously stuck with a higher rate with another lender. Working with David Arnold and his team, they were able to lower our rate by a full percentage point, and will stay in contact with us when the rates come down again.
✓ Verified
Zack and Chrystal were awesome!!! Chrystal was more than kind, understanding, thoughtful, patient and went the extra mile with very difficult circumstances!! Chrystal was always professional as Zack was. Chrystal ALWAYS was beyond incredible, she truly deserves 1 million stars!! See them in 6 months for another re-fi!! Our go to mortgage company. Amazing job!!

Frequently Asked Questions

What is a Home Equity Loan?

A Home Equity Loan is a type of loan that allows homeowners to borrow against the equity they have built up in their property over time. It provides a lump sum of money that is repaid over a fixed term, typically at a fixed interest rate.

Homeowners with a low first mortgage rate can utilize a home equity loan to access extra funds while preserving their favorable initial interest rate. The home equity loan works as a separate second mortgage, allowing them to tap into their home’s equity without affecting the terms of their existing low-interest first mortgage.

Home Equity is calculated by subtracting the outstanding mortgage balance from the current market value of the property. For example, if your home is valued at $300,000, and you have an outstanding mortgage of $150,000, your home equity would be $150,000 ($300,000 – $150,000).

Homeowners can use a Home Equity Loan for various purposes, such as home improvements, debt consolidation, funding education expenses, covering medical bills, or even starting a business. It provides flexibility in using the funds based on your financial needs.

The amount you can borrow with a Home Equity Loan depends on the lender’s policies and your home’s equity. Typically, lenders allow borrowers to access up to 80-90% of their home’s appraised value, minus any outstanding mortgage balances.

While both allow you to borrow against your home’s equity, a Home Equity Loan provides a lump sum upfront, and you repay it over time with fixed monthly payments. On the other hand, a HELOC works more like a credit card, allowing you to draw funds as needed up to a set credit limit during a specified draw period, and you only pay interest on the amount you’ve withdrawn.

Home Equity Loans often come with lower interest rates compared to other forms of credit, making them a cost-effective option for borrowing larger amounts. Additionally, the interest paid on Home Equity Loans is often tax-deductible, providing potential tax benefits for some borrowers.

Disclaimers:

Subject to borrower eligibility and credit approval. Programs are offered through multiple lenders; availability, max LTV, loan amounts, documentation, occupancy, lien position, and features vary by lender guidelines and state. Not all applicants will qualify for 90% LTV or $750,000. Rates and terms (including APR) may change without notice and are not guaranteed until locked. This is not a commitment to lend.

All loans require verification of income/assets, acceptable credit, title, and valuation; property insurance is required (flood where applicable). HELOCs are variable-rate lines with program-specific draw and repayment terms; interest-only options are not available in some states. HELOANs are fixed-rate, closed-end second mortgages with fully amortizing payments. For NON-QM options, documentation and eligibility are reviewed case-by-case and may require reserves.

Prime Choice Funding, Inc. is not affiliated with and does not act on behalf of or at the direction of FHA, VA, or any federal government agency. Equal Housing Lender. NMLS #117375.

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